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However, shares of ENPH have declined 13.5% year-to-date and 7.8% over the past month.
While the clean energy industry gained traction in 2020 and was one of the top performing industries, its long-term outlook is uncertain. Although ENPH’s strategic partnership could help it expand its solar business further, the company is trading at a significantly high valuation, which could result in the stock turning investors off in the near term.
